Accurants Review: Small Business Accounting with a Comprehensive Toolkit

As a small business owner, you likely agree that managing your books and finances can be extremely challenging.

Well, Accurants aims to make accounting simple for small businesses by providing a comprehensive toolkit and easy-to-use interface.

In this review, we'll take a deep dive into Accurants' features, comparing it to popular alternatives like QuickBooks and Wave to help you determine if it's the right accounting software for your business needs.

Navigating Accurants for Small Business Accounting

Accurants provides a robust set of accounting and financial management tools designed specifically for small businesses and solopreneurs. Here's an overview of how Accurants can meet the needs of small business owners and individual accounting professionals.

Understanding Accurants' Place in the Accounting Software Market

Accurants competes directly with QuickBooks, Wave, Xero, and other accounting platforms aimed at small and mid-sized businesses. Key differences include:

Specialization in small business needs - Accurants zeroes in on core financial workflows like invoicing, expense tracking, financial reporting, and payroll. It skips advanced features suited for larger enterprises.
Simplicity and ease-of-use - The interface provides an intuitive user experience for non-accountants. But it still offers depth for finance experts.
Affordable pricing - Subscription plans are scaled for small business budgets and solo entrepreneurs. Tiers remove features not needed by early-stage companies.
Mobility - Cloud-based access via web and mobile apps allows small teams to collaborate and stay on top of finances from anywhere.

Comprehensive Toolkit: A Glimpse into Accurants' Features

As a dedicated small business financial platform, some of Accurants' key capabilities include:

Core accounting - General ledger, double-entry bookkeeping, customizable charts of accounts, journal entries, and robust reporting.
Streamlined invoicing - Customizable invoices, recurring billing, online payments, and invoice tracking. Integrates with PayPal, Stripe, and Square.
Payroll management - Built-in payroll processing, direct deposit, tax calculations and filings, and support for contractors.
Banking integrations - Sync transactions from business bank/credit accounts. Supports Plaid and other aggregators.
Mobile apps - Native iOS and Android apps allow managing finances on-the-go. Access reports, capture receipts, approve invoices, and more.

The Target Audience: Catering to Small Businesses, Freelancers, and Accountants

Accurants provides an affordable path to modern financial tools for key segments like:

Small business owners - Simple to advanced tools to manage all aspects of business finances without costly enterprise accounting systems.
Freelancers and solopreneurs - Streamlined invoicing, expense tracking, and financial reporting tailored for one-person operations.
Accountants and bookkeepers - Powerful reporting and accounting tools to efficiently manage books across small business clients.

With a specialized toolkit catering to small business accounting workflows, Accurants makes robust financial management accessible for early-stage ventures. The platform's ease-of-use also creates opportunities for accountants to efficiently deliver outsourced services.

What is the best accounting software for multiple small businesses?

Xero is widely considered one of the best cloud-based accounting software options for managing multiple small business entities. Here are some of the key reasons why:

Multi-entity support: Xero allows you to set up and switch between an unlimited number of business organizations and entities under one account. This makes it easy to manage the finances for multiple small businesses from a centralized dashboard.
Basic multi-currency functionality: While not as advanced as some competitors, Xero does provide basic support for transactions in multiple currencies when doing business internationally. This helps facilitate financial reporting across entities.
Robust integration ecosystem: There is a large marketplace of third-party applications and services that integrate with Xero to enhance functionality. This allows you to customize Xero to the unique needs of your small businesses. Popular integrations support payroll, ecommerce, reporting, bank feeds and more.
Scalable pricing tiers: Xero offers four pricing plans scaling up to support an unlimited number of users. This accommodates the growth of your small businesses without breaking the bank. Bulk discount pricing is also available if you have very large multi-business setups.

In summary, Xero strikes an optimal balance between ease-of-use, multi-entity support, essential accounting tools for everyday tasks, scalable pricing, and integration flexibility - all hugely beneficial capabilities for the centralized management of finances across multiple small business organizations.

What is the best accounting for small business?

When it comes to choosing the best small business accounting software, there are a few key options to consider that can provide a comprehensive toolkit to manage all of your financial needs:

QuickBooks Online

QuickBooks Online is an industry leader, offering a robust set of features tailored specifically for small business accounting. Key benefits include:

Intuitive dashboard to track income, expenses, account balances
Invoicing, estimates, and payment processing
Payroll management and tax calculations
Reporting and analytics
Integration with 3rd party apps like PayPal, Stripe, etc.

With strong mobile apps and 24/7 customer support, QuickBooks Online is a top choice for small business accounting. Pricing starts at $25/month.

Xero

Xero offers a sleek, user-friendly platform designed for micro-businesses and freelancers. Key features include:

Mobile-first design perfect for on-the-go business owners
Automatic bank feeds and reconciliation
Invoices with online payment options
Payroll integration and management
Unlimited users and standardized reports

With affordable pricing starting at $9/month, Xero is ideal for solopreneurs and very small teams looking for accounting software.

Wave

Wave is a free, cloud-based accounting platform that offers ample features for early-stage and bootstrapped small businesses including invoicing, receipt scanning, accounting overviews and reporting.

While missing some advanced functionality of paid options, Wave provides a solid starting point for businesses wanting to get a handle on finances without investment upfront.

Evaluating small business needs and willingness to pay monthly fees can help narrow the choices to find the right comprehensive accounting toolkit. Leading options like QuickBooks Online, Xero and Wave each cater to different types of small business requirements.

What is the easiest bookkeeping software to use?

FreshBooks is widely considered one of the easiest accounting software options for small business owners without an accounting background. Here's a quick overview of some of its beginner-friendly features:

Intuitive Interface

FreshBooks provides a simple, intuitive interface that allows business owners to:

Create and customize professional invoices in minutes
Send invoices and track payments
Manage expenses
View insightful financial reports

With clear navigation and built-in wizards, most users can get started without formal training or reading lengthy manuals.

Robust Core Accounting Tools

While easy to use, FreshBooks still offers a comprehensive set of core accounting capabilities including:

Invoicing: Create, customize, send, and track invoices and payments
Expenses: Capture expenses via mobile app and categorize transactions
Time tracking: Log billable hours by project, client, or team member
Reporting: Generate real-time reports on income, expenses, profitability, and more

So small business owners get the key financial insights they need without learning complex accounting concepts.

Intuitive Setup

FreshBooks makes it simple for new users to set up their account. Users can:

Quickly configure their business profile and chart of accounts
Import contacts from email providers like Gmail
Connect bank accounts to automatically sync transactions
Set up recurring invoices for predictable revenue

With FreshBooks handling these administrative tasks, small business owners can focus on serving clients rather than bookkeeping.

So in summary, with its user-friendly interface, robust features, and intuitive setup process, FreshBooks removes common barriers small business owners face in managing finances - making it one of the most beginner-friendly accounting platforms available.

What is the best accounting software for print on demand business?

Quickbooks Online is likely the best accounting system for most print-on-demand e-commerce businesses. It offers robust accounting features tailored to small businesses at an affordable price. Key benefits include:

Integrations with e-commerce platforms like Shopify and Etsy as well as payment processors like Stripe and PayPal. This makes tracking orders and revenue seamless.
Invoicing tools that make billing customers simple. You can easily create professional invoices and even accept online payments.
Inventory management to track product costs and quantities in stock across multiple sales channels. This ensures you order enough print materials.
Reporting to gain insights into sales, expenses, profit margins, and other key financial metrics that inform good business decisions.

Xero is another great cloud accounting option with similar features to Quickbooks Online. The main advantage of Xero is it offers a more generous free plan for new businesses just getting started.

Wave Financial is a free accounting platform, but it has fewer advanced functions compared to paid solutions like Quickbooks and Xero. Wave can work well for simple print-on-demand businesses to handle income, expenses, invoicing, and payroll. But once you start scaling up, a paid solution becomes worthwhile.

So in summary, Quickbooks Online likely provides the best balance of reasonably priced accounting tools tailored to the needs of most print-on-demand e-commerce stores as they grow over time. But Xero and Wave are good free or lower cost alternatives to consider as well.

Accurants' Core Features for Small Business Accounting

Accurants provides a comprehensive set of accounting and finance features tailored to meet the needs of small businesses. From streamlining billing and payments to managing expenses and payroll, Accurants aims to simplify financial operations.

Invoicing and Payments: Streamlining Accounts Receivable

Accurants makes the invoicing process easy with customizable invoice templates and automatic payment reminders. Key features include:

Integration with PayPal, Stripe, and Plaid to accept credit card payments or bank transfers
Recurring invoices for regular billing of subscription-based services
Multi-currency support for international clients
Partial payments to allow installment-based billing

With Accurants, small businesses can get paid faster and more efficiently.

Expense Tracking and Accounts Payable Management

Expenses can quickly spiral out of control without careful monitoring. Accurants enables businesses to:

Capture receipts and track expense reports on-the-go using mobile apps
Enforce approval workflows for expense accountability
Integrate corporate credit cards to auto-import purchase data
Pay vendors easily via online bank transfers or checks

With real-time visibility into cash outflows, businesses can better control expenses.

Payroll Application: Simplifying Online Payroll Services

Managing payroll taxes and compliance requirements is challenging. Accurants' payroll software handles:

Automatic federal, state, and local tax calculations
Direct deposits into employee bank accounts
Payroll compliance with IRS forms (W-2, 1099)
Contractor payments via 1099 forms

By automating payroll processes, Accurants saves time and provides peace of mind.

Financial Reporting: Balance Sheets and Cash Flow Statements

Making sound decisions relies on up-to-date financial statements. Accurants enables on-demand reporting such as:

Balance sheets showing assets, liabilities, and equity
Cash flow statements tracking money inflows and outflows
Customizable reports (e.g. profit & loss statements)
Scheduled delivery of reports to stakeholders

With real-time visibility into the key financial health metrics of their business, leaders can take timely actions.

Double-Entry Accounting and Chart of Accounts Customization

As a cloud-based accounting system built on double-entry bookkeeping principles, Accurants delivers robust accounting capabilities:

Enforces debit/credit consistency in transaction entry
Allows customization of general ledger accounts (chart of accounts)
Supports recording of non-cash transactions like depreciation
Provides audit trail visibility with transaction logs

By automating complex accounting activities, Accurants makes financial management easier for lean teams.

Advanced Accounting Tools for the C-Suite and Accountants

Accurants offers robust accounting tools tailored for finance professionals and executives. Here's an overview of some key features:

Back-Office Automation and Ecommerce Accounting

Seamlessly integrates with popular ecommerce platforms like Shopify and WooCommerce
Automates back-office tasks like reconciling orders, managing inventory, generating financial statements
Saves significant time by reducing manual work for accountants

Inventory Management and Point-of-Sale Software Integration

Syncs inventory data between Accurants and POS software in real-time
Provides dynamic overview of stock levels and valuations
Enables intelligent reorder point alerts based on sales velocity

Cloud-Based Accounting Software: Accessibility and Security

Access financial data anytime, anywhere via web browser or mobile
Bank-level security protocols like 2-factor authentication
Automated daily backups so data is always protected

Corporate Finance: Managing Cash Flow and Fiscal Year Planning

Cash flow analysis tools provide projections and insights
Built-in features simplify fiscal year-end closing
Easy to customize reports and financial statements

With robust accounting capabilities plus automation and integrations, Accurants provides an efficient solution for finance teams overseeing complex organizations and ecommerce companies.

Comparing Accurants with Other Accounting Solutions

Accurants is a relatively new accounting solution aimed at small businesses and freelancers. It offers a comprehensive set of features for managing finances, including invoicing, expense tracking, financial reporting, and more. Here's how it compares to some other popular accounting platforms.

Accurants vs. QuickBooks: A Feature-by-Feature Comparison

QuickBooks is the leading accounting software for small businesses. Here's a look at how Accurants stacks up against it:

Basic accounting: Both offer capabilities for invoicing, expense tracking, financial statements, and reporting. QuickBooks has more advanced options like inventory management.
Ease of use: Accurants has a simpler, more intuitive interface. QuickBooks can have a steeper learning curve.
Mobility: The Accurants mobile app enables accounting on the go. QuickBooks also has mobile apps.
Integrations: QuickBooks connects with more third-party business services. Accurants offers integrations with payment processors.
Pricing: Accurants starts at $15/month whereas QuickBooks starts at $25/month for basic plans. QuickBooks gets more expensive for advanced tiers.

Overall, QuickBooks is more powerful but Accurants is easier to use. Accurants is best for freelancers and very small businesses just getting started with accounting.

Evaluating Accurants Against Wave Accounting and Xero

Wave Accounting and Xero are two other popular small business accounting platforms. Here's how Accurants compares:

Core features: All three provide tools for managing invoices, expenses, payments, and financial reporting. Xero and QuickBooks offer more advanced capabilities.
Ease of use: Accurants has the simplest interface with powerful automation. But Xero and Wave are also easy to use.
Payroll: Accurants does not currently support payroll. Xero offers payroll for an added fee. Wave's payroll is free.
Pricing: Accurants is cheaper than both Xero and Wave at only $15/month. Xero starts at $30/month and Wave is free but charges for payroll.

For simplicity and price, Accurants competes well with Xero and Wave. It offers a friendlier entry point for accounting novices. But Xero and Wave offer more features.

Integrations with Payment Platforms: PayPal, Stripe, and More

One advantage of Accurants is its integrations with payment processors like Stripe and PayPal. This allows small businesses to easily:

Accept invoice payments online
Sync transaction data with Accurants
Avoid manual data entry and reconciliation

Accurants also integrates with banking platforms like Plaid to auto-import bank transactions. This rounds out the solution with seamless financial data flows and automation.

The ability to connect Accurants with other business platforms is a nice bonus for streamlining operations. It enhances convenience and saves time for small business owners.

Practical Insights: Using Accurants for Day-to-Day Accounting

Accurants provides small businesses, freelancers, and sole proprietors with a comprehensive toolkit for streamlining daily accounting tasks. Here are some best practices for leveraging Accurants' features:

Bookkeeping Best Practices with Accurants

Use Accurants' double-entry accounting system to record transactions following basic accounting principles. This maintains accuracy across financial statements.
Categorize transactions with a well-organized chart of accounts. This enables tracking income/expenses per account.
Review financial statements regularly to identify discrepancies. Rectify issues promptly to uphold accuracy.
Attach receipts and invoices to related transactions for clearer audit trails.
Record transactions frequently, even daily, to avoid backlogs. This enables real-time financial visibility.

Managing Business Bank Accounts and Cash Flow

Connect all business bank/credit accounts to consolidate balances in one dashboard.
Set up custom alerts for low balances or large transactions to monitor cash flow.
Use Accurants' reports to forecast cash flow needs for the next month/quarter.
Transfer funds easily between connected accounts to cover shortfalls when required.

Navigating Small Business Taxes with Accurants' Tax Filing Software

Track income and expenses in separate accounts to simplify tax preparations.
Use tax planning tools to estimate quarterly/annual tax obligations.
Integrate Accurants with tax filing partners for seamless e-filing and payments.
Maintain thorough records of deductions and credits to reduce tax liabilities.
Set reminders for quarterly/annual tax deadlines to avoid penalties.

Choosing Between Cash and Accrual Accounting with Accurants

Cash basis - simpler, records income/expenses when cash changes hands. Ideal for small businesses.
Accrual basis - recognizes income/expenses when billed/rendered regardless of payment date. Better for growth planning.
Accurants enables easy switching between methods. Evaluate which aligns better with your business needs.

Conclusion: Is Accurants the Right Accounting Pro for Your Business?

Final Thoughts on Accurants as a Small Business Accounting Solution

Accurants offers an impressive toolkit for small business accounting and finance needs. Key benefits include:

Comprehensive set of accounting, invoicing, payroll, and tax functionalities in one integrated platform
User-friendly interface and workflows designed specifically for small business owners and sole proprietors
Robust reporting and analytics to provide financial insights
Integration with popular small business platforms like QuickBooks, Xero, PayPal, Stripe, and more

Potential limitations to consider:

Less specialized for complex enterprise accounting needs
Limited support for niche industry-specific requirements
As a newer platform, ongoing improvements and new features still in development

So for most small businesses and solopreneurs looking for an all-in-one accounting solution, Accurants presents a very compelling option to efficiently manage finances.

Making the Decision: Accurants or Alternative Accounting Software

When deciding if Accurants is the right fit, assess your key accounting needs and compare to alternatives:

If you want a simple, affordable solution focused specifically on small business financials, Accurants excels.
If you require complex revenue recognition or global consolidation capabilities, a platform like NetSuite may be preferable.
If deep inventory management and manufacturing functionalities are critical, explore options like SAP Business One.

Make your decision based on which platform best aligns to your essential requirements, growth trajectory, and budget. Leverage free trials to validate the ideal solution for your small business accounting. Accurants presents a leading choice for most main street use cases with its specialized toolkit.